Michigan § 450.1780 - Advisory statement and approval.
Full text of Michigan Michigan Compiled Laws § 450.1780 — Advisory statement and approval., with citation guidance and answers to common questions.
§ 450.1780. Advisory statement and approval.
In addition to any vote otherwise required by law or the articles of the corporation, a business combination shall require an advisory statement from the board of directors and approval by an affirmative vote of both of the following:
Not less than 90% of the votes of each class of stock entitled to be cast by the shareholders of the corporation.
Not less than 2/3 of the votes of each class of stock entitled to be cast by the shareholders of the corporation other than voting shares beneficially owned by the interested shareholder who is, or whose affiliate is, a party to the business combination or an affiliate or associate of the interested shareholder.
Frequently Asked Questions About Michigan § 450.1780
What does Michigan Compiled Laws § 450.1780 cover?
Section 450.1780 ("Advisory statement and approval.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 450.1780?
A common citation format is "Michigan Compiled Laws § 450.1780" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 450.1780 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.